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GRANTOR: T.P. HERITAGE INN AND S.S. HERITAGE INN APN: 941-1300-14 AND 941-1300-15 PROJECT: JOHNSON DRIVE ECONOMIC DEVELOPMENT ZONE PROJECT and 2-1 and Attachment 3 and 3-1, including their Exhibits A (Legal Description) and B (Plat Map). 3. Purchase. A. Consideration. The Fee, Easement, and TCE described herein is being conveyed by GRANTOR to the CITY at no cost. GRANTOR has received $591,000 in development entitlement costs credits, which they have expended in total, that is equal to the fair market valuation of the Fee, Easement, and TCE. No additional compensation for the Fee, Easement, and TICE is due to GRANTOR by CITY. B. Deductions. CITY may deduct and pay from the consideration any amount necessary to satisfy any liens, bond demands and delinquent taxes due in any year except the year in which this escrow closes, together with penalties and interest, and/or delinquent and unpaid non -delinquent assessments, which may have become a lien at the close of escrow. C. Current taxes. Taxes for the tax year in which this escrow closes shall be cleared and paid in the manner required by Revenue and Taxation Code Section 5086 if unpaid at the close of escrow. D. Escrow and title charges. CITY agrees to pay all escrow, recording and title insurance charges, if any, incurred in this transaction. E. Clear title. Close of escrow for this transaction is contingent upon the title company receiving deeds of reconveyance from any deed of trust or mortgage holder trustees and beneficiaries. If the Property is secured by a mortgage(s) or deed(s) of trust, GRANTOR is responsible for payment of any demand under authority of said mortgage or deed of trust out of GRANTOR's proceeds. Such amounts may include, but not be limited to, payments of unpaid principal and interest. F. Improvements. The consideration in Section 3.A. includes payment for the following improvements: N/A. G. Cost to Cure Damages. N/A 4. Temporary Construction Easement. GRANTOR hereby grants to CITY a TICE for the use and storage of tools, machinery, materials and equipment by CITY, over, across and upon that certain real property as described and depicted in Attachment 4, Exhibits A and A-1 and Exhibits B and B-1 attached hereto and made a part hereof, together with the right of ingress to and egress from said property and the right at all times to enter and use said real property and every part thereof for all purposes connected with the construction of the proposed public improvement for a period of 12 months. Said period to commence with first entry on GRANTOR's property by CITY'S contractor. At least 48 hours advance written notice will be given before any entry on GRANTOR's property. The amount set forth in Clause 3 herein includes full payment for the TCE. A. CITY agrees to promptly restore any damage to the construction easement area and/or the parcels upon which the construction easement area is situated (and the improvements located thereon) caused by CITY's entry upon the construction easement area or work performed in connection with the Project. B. CITY agrees upon completion of any of its works hereunder to restore, as near as possible, the surface of the TCE to the condition in which it was prior to the commencement of the work related to the proposed public improvement. Page 2 of 6